After the demolition in the previous session, global markets recovered some lost ground overnight.

In Europe the FTSE 100 added 39 points (+0.7%) to settle at 5635, whilst the CAC (+0.6%) and DAX (+1%) also moved higher.

Stateside, the Dow Jones added 89 points (+0.7%) to settle at 12805, whilst the S&P (+0.7%) and Nasdaq (+0.8%) enjoyed similar gains.

The Aussie dollar firmed, moving back above the US$1.03 handle, whilst the euro strengthened from a seven- week low against the yen as Spain's bonds climbed after a board member of the ECB indicated it may buy the nation's debt to reduce borrowing costs.

Oil rose after the US Energy Department said that fuel stockpiles declined and as a European Central Bank official signalled the lender may act to stem the spread of the region's debt crisis.

Crude for May delivery added US$1.68 to settle at US$102.70 a barrel on NYMEX.

Elsewhere, copper fell in New York to the lowest price since mid-January as signs of a worsening debt crisis in Europe and slowing growth in China fuelled concern that demand for the metal will stall.

Today's session will bring us data in the form of the Melbourne Institute inflation expectations, 12 midday, AEDT, and the all important employment change and unemployment rate numbers, at 12:30pm, AEDT.

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Morning Market Analysis: Bouncing Back is a post from: Australian Stock Report Market Pulse Blog